On this episode of ResultsRevTV, Marianna interviewed Betsy Liles, founder and small business owner of b. Liles Studio and b. Fine Art Jewelry in Ridgeland, Miss.
During the show, we talked to Betsy about many topics, but initial feedback says that the most popular topic was Betsy’s use of triggered e-mail marketing campaigns. As a relatively new e-mail marketer (she started in March 2010), Betsy is doing innovative things with e-mail marketing that are saving her time on campaign setup AND providing BIG returns for her business. You can watch the full ResultsRevTV episode here (length: approximately 30 minutes).
Following are paraphrased portions of the interview transcript from Marianna’s interview with Betsy Liles:
Marianna: What is the background on your business location?
Betsy: I worked out of my home for 10 years (starting in 1996) and moved to a small building on Jackson Street in 2006. In 2008 we moved to our current location. It was a house across the street from our first Jackson Street location. I had no idea what would happen, but our business tripled almost immediately. We got lots of comments about our great parking and our window displays. People who had always driven by were now stopping in. We remodeled on a shoestring budget with the help of Latitudes.
Marianna: Talk about doing something “different” from everyone else who makes or sells jewelry, tell us about the business itself.
Betsy: We make versatile jewelry that can be worn alone or combined with other pieces. Much of it is made from recycled metals. Customers come in with old costume jewelry and bags of broken pieces of silverware. We can recreate it into something else that they can wear. Our pieces are noticeable, but subtle.
b. Liles Studio is our manufacturing business. I call myself an “accidental business owner.” I initially moved the business from my home because I wanted more studio space. When we moved we turned into a retail business because of the number of customers coming into the store. I hired a business consultant, went to a computerized accounting system, and we started adding other items to our retail mix such as clothing and handbags that were also unique and had a story or were recycled to fit in with our overall business theme.
When we first moved in to the new building I rented studio space to other artists. As we became a more established business I took that space and converted it from studio space into retail and showroom space.
We sell items for people who don’t want what everyone else has. We use recycled materials and some consignment items.
Marianna: You expanded your retail mix in a way that complimented your core business plan. Retail business owners need to remember to stay true to their business. You said that, initially, your best marketing was done by word of mouth. Tell me about that.
Betsy: I didn’t think I had the money to do anything else. I got business from recommendations from friends. When I hired a consultant I took every bit of information they gave me. Some of it was uncomfortable and stretched me too quickly, but I took note of it. When I started thinking about TV advertising I remember hearing people talk about characters on TV as if they were best friends. I thought, “I want them to think of my business that way.” The impact of TV advertising was immediately huge.
Marianna: What value does advertising shelf-life have to you as a business owner and what are the keys to your advertising or marketing success in each media?
Betsy: A print ad in Mississippi Magazine has a much longer shelf-life because the magazine has such a huge following. Readers don’t throw their issues away, and an issue can stay in a doctor’s office for years. People will see it long after it has been printed. The effect is much longer lasting than a weekly publication.
I have also chosen radio advertising at times because of the loyalty people have to the shows they enjoy. A recommendation from a radio personality carries weight. I advertise on programs that share the same target customer demographic that I do.
We just started email advertising not long ago. We have always sent postcards, but I was persuaded to start emailing customers by my sister. The difference has been measurable, and the cost is nothing compared to traditional mail. When someone initially joins our mailing list, I use an auto responding system with coupons in the first three emails spaced apart, so that we stay at the top of their minds. I want my customers to associate our emails with good things right from the beginning of their experience on our list, so that they stick with it. I want to plant that in their heads right away.
Marianna: How has Facebook impacted your business?
Betsy: The immediacy of it is interesting. It is great to send a targeted message. It is “of the moment” and has a small shelf life, but it is great to let people know about product information. It was a little overwhelming at first, but the college student I hired said I should set it up, and I’m working through it with good success.
Marianna: Tell me about your membership to the Mississippi Craftsman’s Guild and its importance to the community and your business.
Betsy: It is three miles from my store, and it is a beautiful resource for our community. Everything they have is different and unique. A lot of artisans operate under the radar, so it is great to have a central location for their work. Studies show that the economic impact artisans have on a community is huge, and the Mississippi Craftsman’s Guild building is used to build tourism for an area.
Guest Question: How do you decide on the staging for the products in your store?
Betsy: Each vignette is a group of different items that complement each other to show options to customers. I trash dive all the time to find cool things to use as displays.
Guest Question: As you transition from artist to business owner, how do you balance the two sides?
Betsy: It’s tough. I use QuickBooks now for the business. That was a huge leap, but it can better manage the growth. I hate that I’ve stepped away from the art, but I get to support other artists with the business.
Marianna: What are the primary metrics you watch in your business now?
Betsy: We measure what time of day we get the most business and the number of customers we have on each day of the week. We measure which times are the most profitable and what products have sold the best. It helps us decide where to put our resources. You do have to balance it and use the data, but not let it wear you out.
Andy: What has been the most rewarding part of your business?
Betsy: Family heirlooms. Helping people turn an item into something they will use. I love being a part of their story and their families.
Check out Betsy’s work by visiting the b. liles studio web site and her Facebook Page.
What did you think of this episode? How does your experience in business match up with Betsy’s? Let us know in the comments section below.
